BMO World Elite Cashback Mastercard: 5% Cashback at Supermarkets and no Annual Fee for the First Year!

The BMO Cashback World Elite Mastercard offers 5% cashback on your grocery purchases and even discounts at Shell gas stations!

The card features Mastercard’s network, providing convenience both within and outside of Canada, allowing you to redeem cashback whenever you want. You can check out how to apply!

SEE HOW TO APPLY

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BMO is one of the top financial institutions in Canada, providing a variety of services such as bank accounts, mortgages, loans, investments, and insurance.

Among its credit card offerings, the BMO World Elite stands out for its focus on cashback rewards.

It features different cashback tiers, including an impressive 5% on groceries, which is the highest rate in Canada for food and everyday essentials.

For transportation expenses such as travel and taxis, the cashback rate is 4%. You’ll also earn 3% cashback on electric vehicle charging and fuel purchases at gas stations.

Moreover, the card provides 2% cashback on recurring bills like gym memberships and streaming subscriptions.

For all other eligible purchases, the cashback rate is 1% with no cap, and you can redeem your rewards at any time.

You can also enjoy savings of up to seven cents per liter at Shell Fuel, as well as travel and medical insurance coverage of up to $5 million.

Typically, as is standard for this type of credit card, the initial limit begins at $5,000 but can increase significantly depending on the cardholder’s financial situation.

The card provides 10% cashback on all purchases during the first 3 months, making it an excellent option for saving money in the initial weeks of using your BMO card.

If you keep a checking account with BMO, the $120 annual fee will be waived for the first year. Otherwise, the fee is $120, plus an additional $50 for each supplementary card.

To qualify for the card, you must have a positive credit history and meet BMO’s minimum income requirements.

The entire application process can be completed through BMO’s digital platforms, ensuring both security and convenience for everyday transactions.

When it comes to redeeming your cashback, there are numerous options available, including applying it to your statement, transferring it to a checking or savings account, or even using it with an investment account.

The Mastercard Travel Rewards program provides discounts and cashback on travel-related purchases, along with beneficial access and perks wherever you need them.

For discounts, you can save as much as 20% with companies like National Car Rental and up to 5% with Enterprise Rent-A-Car.

In terms of security, the BMO card ensures zero liability for unauthorized use, features Mastercard Identity Check, and sends alerts from BMO to verify your transactions.

Want to learn another option?

Looking for another card option from BMO? The Cashback Mastercard is also very effective, offering the same benefits for 3 months along with the bank’s security.

Additionally, it provides good value for money, as the card has no annual fee, and you can check out how to apply.

SEE HOW TO APPLY